Amicus Horizon and Viridian merge to form Optivo
Amicus Horizon and Viridian have today launched their merged 44,000-home housing association and named it Optivo.
Optivo is to be among the largest housing associations in the UK, with 90,000 tenants in London, the South East and the Midlands, and an annual turnover of £306m.
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Amicus Horizon previously revealed to Inside Housing that it would have the capacity to build 1,500 homes every year from 2021, with even more possible with the addition of grant.
Optivo said it would raise £1.5bn of new finance to support its growth programme.
The association aims to build 85% affordable homes, of which 60% would be below market rent and 40% shared ownership.
Paul Hackett, chief executive of Optivo, said: "Today marks the beginning of Optivo and the start of an exciting new journey. We’re now ‘one team’ and will be able to build more new homes than we could have done as separate organisations.”